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Tech Industry

Exodus tops Street forecasts in 3Q

    Exodus Communications posted a smaller-than-expected loss in its third quarter Thursday, dropping $60.6 million, or 14 cents a share, on sales of $229.6 million.

    First Call Corp. consensus pegged it for a loss of 18 cents a share in the quarter.

    Exodus (Nasdaq: EXDS) shares closed up $4.44 to $38.06 ahead of the earnings report.

    The $229.6 million in sales marks a 238 percent improvement from the year-ago quarter when it lost $31.5 million, or 9 cents a share, on sales of $68 million.

    "Enterprise customers currently represent 53 percent of our total revenues and bookings compared to 39 percent one year ago, as we continue to see more Fortune 1000 companies choose Exodus as the Web hosting provider for their mission-critical Internet operations," said CEO Ellen Hancock in a prepared release.

    Last quarter, Exodus lost $42.5 million, or 10 cents a share, on sales of $179.6 million.

    Exodus shares moved up to a 52-week high of $89.81 in March after falling to a low of $15.31 last October.

    Thirty-two of the 33 analysts tracking the stock rate it either a "buy" or "strong buy."

    Analysts are predicting a loss of 60 cents a share in the fiscal year.